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View Full Version : Neteller Giveaway EV Question

Smackdab
07-24-2003, 09:33 PM
Have accumulated just over 200k in Neteller points. Was considering entering some of the cash drawings. Was hoping someone here could tell me which one has the best EV.

Weekly - \$100 prize
200 entries out of 6008

Bi- Weekly - \$250 prize
80 entries out of 3229

Monthly - \$2500 prize
20 entries out of 23294

LondonBroil
07-24-2003, 10:48 PM
And I thought I had a lot with 50k.

I figured this out earlier and I'm pretty sure the Bi-Weekly one has the highest EV by far. What I did was divide the number of chances by the total number of entries, then multiply that by the prize amount.

Weekly = (200/6008)*100 = 3.329
Bi-Weekly = (80/3229)*250 = 6.194
Monthly = (20/23294)*2500 = 2.146

What's odd is that I thought I did this a long time ago and the monthly one had the best EV. I guess maybe people wised up. I'm pretty sure my thinking is correct but it's hard for me to explain. It takes in the chance you have of winning times the prize pool. It's kinda like asking if you'd rather have a 1 in 10 chance of winning \$5 or a 1 in 50 chance of winning \$100.

Smackdab
07-25-2003, 12:27 AM
Thanks for your answer LB. I haven't checked into the drawing thing for quite awhile. Seems like the number of entries to the monthly has risen significantly since I last checked. Not sure if I will enter just yet but thanks for doing the math for me.